The three approaches to measuring GDP are called the
A) accounting approach, the income approach, and the expenditure approach.
B) product approach, the cost approach, and the expenditure approach.
C) product approach, the income approach, and the expenditure approach.
D) accounting approach, the statistical approach, and the income approach.
C
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A curve that shows the price level at which firms in the economy are willing to produce different levels of goods and services and the resulting level of real income is called:
A) aggregate demand. B) aggregate supply. C) potential output. D) natural rate of unemployment.
Subprime mortgages refer to the mortgages issued
A) by low rating financial institutions. B) at an interest rate below prime rate. C) to borrowers with low incomes and poor credit histories. D) by government